Commercial Property
A freehold three storey end of terrace commercial unit previously used as office space and prior to that occupied and built to Lloyds Bank Specification located on Gooch Street, Birmingham. The building has been vacant for several years and is in need of refurbishment.
The property comprises Ground Floor, Basement and First floor and extends approximately 3010sq ft. The property benefits from roller shutters externally and parking to the front.
The property would lend itself well to a residential scheme (subject to planning approval) owing to its location within an area of significant regeneration. The building lies within the A4540 inner Ring Road and borders the zones of Digbeth, Highgate and the Chinese Quarter. Major regeneration has already taken place opposite the building with several thousands of apartments also due to be developed at the site of the former Monaco house less than 1/4 mile away.
VAT will be not applicable. Interested parties are advised to inspect the legal pack for more information. Vacant possession upon completion.
Business rates apply.
The building has been unused for 18 years and is in need of total refurbishment. When the auctioneer's representative visited the property, water was found in the cellar. To our knowledge, no structural survey has been conducted.
May be suitable for alternative uses, subject to obtaining the necessary consents. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.
These sales details are awaiting vendor approval.
Please be advised that due to debris inside the property and the current state of repair, we are unable to offer viewings. Prospective buyers, particularly those relying on financing options who may require a survey, are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Freehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
